Buying a house is a major step when you want to start living in Singapore. A house is very important that even married couples make this their top priority in starting their life together as a couple.

A positive news for people looking to buy new homes in Singapore was just released. The prices of houses in Singapore are expected to drop further because of the strict deadline for developers to sell the remaining unsold inventory. This is according to the Japanese holdings company Nomura.

Nomura also explained that the unsold units must all be sold soon or else the residential projects will be fined heftily under the ABSD or Additional Buyers Stamp Duty.

The home builders are however, still reluctant to cut down prices but since we’ve reached 2015, they would surely comply in order to avoid paying the fines on the unsolved housing units.

The lower prices of housing units may encourage buyers especially because the housing units are in the market for an average cost of $2 million and lesser. This is the perfect time for potential buyers to return to the housing market and purchase the unsold housing inventory.

Moreover, the builders will also be able to benefit from the cutting down of housing prices because it can spur the government to change or amend current housing policies. The amount of unsold inventory can also serve as a wakeup call for the companies to change their marketing strategies to more effective ones so that by next season, there will be more units sold and lesser chances of cutting down home prices before the designated deadline.